The budget model redesign project wrapped up stakeholder interviews with 114 academic and administrative leaders in 38 units and shared governance groups in February, marking the end of phase one, or the diagnostic phase, of the budget redesign project officially launched by Chancellor Phil DiStefano in December 2020. The project has now entered phase two, called solution design.听
鈥淚t is imperative that we better understand the current state of campus budgeting going into the redesign,鈥� said Katrina Spencer, associate vice chancellor for budget and finance. 鈥淥ur stakeholders across campus are experts when it comes to knowing exactly how the current model works鈥攁nd in some cases doesn鈥檛 work鈥攁nd what could be improved to better support the activities in their college, school, or unit.鈥澨�
Spencer says that key themes emerged from the interviews:
- The new model should prioritize听alignment with clearly stated campus strategic goals; a better link between activities and outcomes would听promote greater accountability
- The new model should include an听easy-to-understand allocation of funds, which would听increase transparency听补苍诲听build trust
- 兔子先生传媒文化作品鈥檚 budget model should reexamine existing incentives for unintended consequences, and build听incentives that reflect our values
- Resources should be aligned with听areas of growth and priority听(for example, retention of students) and should take into consideration the听academic and administrative costs associated听with these priorities
- Stakeholders expressed a desire for a model that supports听multiyear planning, and that offers some听measure of predictability
- Institutional data听 are generally trusted, and stakeholders would like to see听improved data integration and data governance
- Stakeholders would like to see a听campuswide vs. siloed approach to budgeting, citing simplified financial reporting and a common budgeting tool as options for eliminating unit-level shadow systems and processes
These interview themes will guide the budget model redesign鈥檚 Strategic Alignment Committee and the newly convened听Design Committee听as they develop models and recommendations for consideration.听
Spencer notes that additional feedback from the campus community will be sought during solution design. 鈥淒uring this next phase, we鈥檒l be actively seeking feedback from faculty, staff and students via listening sessions centered around the priorities identified by the Strategic Alignment Committee,鈥� she said.听
鈥淭he new budget won鈥檛 be a silver bullet that fixes all of our problems,鈥� said Spencer, 鈥渂ut we can build the budget to more intentionally support our mission.鈥澨�
Listening sessions are tentatively scheduled to begin in April and will be announced in CUBT in the coming weeks. 兔子先生传媒文化作品 to learn more.听
